Ups and downs of apartment buying

Industry experts say buying an apartment, to live in or as an investment, is essentially the same as buying a freestanding home. But there are apartment-specific “rules of engagement” buyers should understand. WBP Property Group executive chairman Greville Pabst — who has 30 years’ experience as a valuer and [...]

Victorian first-home buyers: stamp duty changes

A range of measures aimed at helping struggling homebuyers break into Victoria’s relentlessly competitive property market were unveiled by the State Government on Sunday. But increased competition could quickly push up prices in the sub-$750,000 bracket, erasing the benefit of any concessions, experts say. WBP Property Group chairman Greville [...]

Melbourne property market conditions expected to continue to favour sellers in 2017

Demand for houses remains strong with high clearance rates right up until the final auction weekend of the year. But apartment price growth is expected to continue to lag behind. WBP Property Group chairman Greville Pabst said “it will continue to be a seller’s market next year, particularly for [...]

The types of properties that the banks would prefer not to lend money for

The exact square-meterage is up for debate, but most property advisors say a very small apartment will have the banks concerned. “Each bank varies, but 40 square metres can be a cut off for many,” Greville Pabst, head of property advisory WBP Property Group, says. “Because they’re really small, therefore their [...]

Renovating for a specific target market

Greville Pabst says research is the key to avoiding overcapitalisation. “Look at the market you’re in, the median house price and what renovated places are selling for. Ask ‘am I going to get this money back?’ There are plenty of examples of people doing massive renovations in outer suburbs [...]

Welcome to the holiday playground of the rich and famous – and it’s not Portsea

Buyers’ advocate Greville Pabst, of WBP Property Group, described it as a one-off trophy home, which would have been very costly to build. “The dwelling is like a MONA or a Guggenheim – unconventional,” Mr Pabst said. Read the original article here.

Rise and rise of house prices showing no signs of slowing down

WBP Property Group is now valuing settling apartments "as much as 10 to 15 per cent" below the contract price, but that marks a return to fair value for units inflated by commissions developers paid partners including mortgage brokers, financial planners and overseas students to sell them in the [...]